Econet HY 2024 Performance (2024)

Table of Contents
Investor Relations Performance Highlights HY – 2024 We will continue modernising our network infrastructure to unlock opportunities presented by emerging technologies to broaden and diversify our service offering. Artificial intelligence and process automation will be pivotal in improving operational efficiencies and customer service delivery. Company Information Share Quote Latest Activity Market Info Fundamentals File Downloads Board composition, balance and independence Dr James Myers | Chairman and Independent Non-executive Director Mr Hardy Pemhiwa | Group CEO and Managing Director of Econet Global Limited Mr Douglas Mboweni | Chief Executive Officer Mr Martin Edge | Independent Non-executive Director Mr Roy Chimanikire | Group Deputy Chief Executive Office Mr Godfrey Gomwe | Independent Non-executive Director Ms Beatrice Mtetwa | Non-executive Director Dr Jacqueline Chimhanzi | Non-executive Director Mr Mgqibelo Gasela | Independent Non-executive Director Miss Thoko Moyo | Independent Non-executive Director Miss Elizabeth Tanya Masiyiwa | Non-executive Director Mr Chengeto Moyo | Finance Director Committees to assist the Board exercise its authority Audit CommitteeMembers: Mr M Edge (Chairman), Dr J Myers, Mr G Gomwe, Mr H Pemhiwa, Miss ET Masiyiwa Risk CommitteeMembers: Mr G Gomwe (Chairman), Mr M Edge, Mr M Gasela Nominations CommitteeMembers: Dr J Myers (Chairman), Mr H Pemhiwa, Ms B Mtetwa and Dr J Chimhanzi. Remuneration CommitteeMembers: Dr J Myers (Chairman), Mr H Pemhiwa, Ms B Mtetwa, Dr J Chimhanzi Environmental, Social & Governance CommitteeMembers: Dr J Chimhanzi (Chairperson), Ms T Moyo, Mr G Gomwe, Mr M Gasela, Miss ET Masiyiwa Role and responsibilities of the Board Get investor updates in your inbox Investor help desk Follow us on social media Contact us Transfer secretary Shareholders Events Calendar Terms & Conditions General Terms Of Use Cautions And Disclaimers General Disclaimer Intellectual Property Rights Miscellaneous Contacting Us Privacy Privacy Statement Introduction Information We Receive Web Server Logs Cookies Third Party Technologies Information Supplied By You Use Of Your Personal Information Sharing of Identifiable Information Anonymous information Security Measures Where we store your data Access to your Information Promotional Messages Privacy Policy Changes Contact Dr James Myers (Chairman) Mr Hardy Pemhiwa Mr Douglas Mboweni Mr Martin Edge Mr Roy Chimanikire Mr Godfrey Gomwe Ms Beatrice Mtetwa Dr Jacqueline Chimhanzi Mr Mgqibelo Gasela Ms Thoko Moyo Miss Elizabeth Tanya Masiyiwa Mr Chengeto Moyo FAQs

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Econet HY 2024 Performance (2)

Investor Relations

Performance Highlights

HY – 2024

Growth in revenue resulted from a volume growth of 24% and 25% for voice and data respectively. However, the Group incurred a loss before monetary adjustment of ZW$24 billion.

Econet HY 2024 Performance (3)

Econet HY 2024 Performance (4)

Econet HY 2024 Performance (5)

We will continue modernising our network infrastructure to unlock opportunities presented by emerging technologies to broaden and diversify our service offering. Artificial intelligence and process automation will be pivotal in improving operational efficiencies and customer service delivery.

Dr J. Myers, Chairman of the Board

Econet HY 2024 Performance (6)

Econet Wireless Zimbabwe is a diversified telecommunications group; it is the largest enterprise of its kind in Zimbabwe.

Company Information

Registered NameEconet Wireless Zimbabwe Limited (ECO.zw)

ISINZW 000 901 212 2

Ticker CodeECO.zw

SectorTechnology

Stock ExchangeZimbabwe Stock Exchange

ChairmanDr James Myers

Chief ExecutiveDouglas Mboweni

Company SecretaryTatenda A. Ngowe

Transfer SecretaryFirst Transfer Secretaries (Pvt) Ltd (zw)

Year EndFebruary

Year Founded1998

Year Listed1998

Websitehttps://ewzinvestor.com

Share Quote

ZWL4,890.97
-87.22 / -1.75%
Year to date 478.16%
52 Week Change 1,851.12%
52 Week Low 52 Week High
164.67 5,193.07
Company alerts available

Latest Activity

Trade DateApril 4, 2024
Bid4,978.20
Ask4,890.97
SalesZWL 4,890.97
Volume Traded885,800
Value TradedZWL 4.3B
Liquidity (12m)ZWL 148.6B

Market Info

SectorTechnology
ExchangeZimbabwe Stock Exchange
ISINZW 000 901 212 2
Year EndFebruary
Founded1998
Listed1998
Chief ExecutiveDouglas Mboweni

Fundamentals

Shares2,992,163,203
Market CapZWL 14.6T
P/E-6.98
Div. Yield0.00%
EPSZWL -701.00
P/B Ratio33.50
EV / Ebitda106.98
* TTM

2 4, 2024

Press Announcement to Econet Wireless Zimbabwe Limited Shareholders

This Press Announcement relates to the proposed Scheme of Reconstruction between Econet Wireless Zimbabwe Limited (Econet) and EcoCash …

13 3, 2024

Econet Wireless Zimbabwe Dividend Declaration Notice

Econet Wireless Zimbabwe declares a dividend of 0.55 US cents per share

6 2, 2024

Econet Wireless Zimbabwe – Cautionary Announcement

Further to the Cautionary Announcements dated 5 April 2023 and 27 April 2023 respectively, Shareholders are advised that …

16 1, 2024

Econet Wireless Zimbabwe – Cautionary Announcement

Further to the Cautionary Announcements dated 5 April 2023 and 27 April 2023 respectively, Shareholders are advised that …

16 1, 2024

Econet Wireless Zimbabwe – Trading Update for the third quarter ended 30 November 2023

Operating environment The Company has been actively developing its network capabilities and securing its services in response to …

Econet invites you to review its latest published financial reports: half year reports, annual reports / reference documents. All the listed documents may also be downloaded for further perusal.

File Downloads

File Downloads

The facts that affect Econet’s underlying value.

28 Feb 2328 Feb 2228 Feb 2128 Feb 2028 Feb 19
Revenues339,167,367,000282,151,779,00057,932,621,00028,242,482,0005,177,236,000
Attributable PAT(16,684,879,000)40,100,046,0001,098,575,000(5,937,316,000)697,954,000
Shareholders Funds436,814,128,000234,926,168,00075,686,690,00041,792,357,0009,431,529,000
Net Interest Bearing Debt46,373,818,0009,885,553,0002,583,286,0003,339,392,000(766,630,000)
Cash On Hand49,087,722,00021,644,813,0006,417,605,0002,641,620,0001,707,435,000
Interest Bearing Debt95,461,540,00031,530,366,0009,000,891,0005,981,012,000940,805,000
Net Current Assets(12,251,458,000)15,130,791,0007,407,608,000(1,881,487,000)319,492,000

The Public Accountants and Auditors Board (PAAB) issued a pronouncement on 11 October 2019 indicating that the economy had become hyper-inflationary, and recommended the adoption of International Accounting Standard (IAS 29) “Financial Reporting in Hyperinflationary Economies”. The financial statements from FY 2019 onwards were prepared using the hyperinflationary accounting basis to achieve fair presentation at the reporting date. Financial figures in the table above prior to FY 2019 are based on historical cost reporting.

The Board recognizes that in order to effectively play its role of setting out the Group’s strategy and reviewing the Group’s strategic direction, it must observe good corporate governance and comply with emerging global governance requirements. It is the Board’s responsibility to ensure the Group observes generally accepted principles of corporate governance as enunciated in the various codes on corporate governance as well as compliance with laid-down regulatory obligations. The Board is fully cognisant of the standards set out in the King Codes and the Zimbabwe National Code on Corporate Governance and ensures that these are complied with in the Group.

As a listed entity on the Zimbabwe Stock Exchange the Group is obliged to comply with the latter’s Listing Rules. The Group’s operations are also subject to laws and regulations imposed by government and local authorities. The Board ensures that every effort is made to comply with these laws and regulations to the latter. The Board meets four times a year.

  • Board of Directors
  • Board Committees
  • Responsibilities
  • Board of Directors

Board composition, balance and independence

The Board has twelve members: three executive directors, three non-executive directors and six independent non-executive directors. The Board is chaired by an independent non-executive director. By ‘independent non-executive’ is meant independence from management and absence of any business relationship which might have an impact on the director’s independence of judgment and ability to act in the best interests of the Group.

The Articles of Association and the Companies Act (Chapter 24:03) provide that at least one third of the directors must retire at every annual general meeting and, if eligible, seek re-election.

Econet HY 2024 Performance (7)

Dr James Myers (Chairman) *

Dr James Myers | Chairman and Independent Non-executive Director

Econet HY 2024 Performance (8)

Mr Hardy Pemhiwa

Mr Hardy Pemhiwa | Group CEO and Managing Director of Econet Global Limited

Econet HY 2024 Performance (9)

Mr Douglas Mboweni

Mr Douglas Mboweni | Chief Executive Officer

Econet HY 2024 Performance (10)

Mr Martin Edge *

Mr Martin Edge | Independent Non-executive Director

Econet HY 2024 Performance (11)

Mr Roy Chimanikire

Mr Roy Chimanikire | Group Deputy Chief Executive Office

Econet HY 2024 Performance (12)

Mr Godfrey Gomwe *

Mr Godfrey Gomwe | Independent Non-executive Director

Econet HY 2024 Performance (13)

Ms Beatrice Mtetwa | Non-executive Director

Econet HY 2024 Performance (14)

Dr Jacqueline Chimhanzi *

Dr Jacqueline Chimhanzi | Non-executive Director

Econet HY 2024 Performance (15)

Mr Mgqibelo Gasela*

Mr Mgqibelo Gasela | Independent Non-executive Director

Econet HY 2024 Performance (16)

Ms Thoko Moyo *

Miss Thoko Moyo | Independent Non-executive Director

Econet HY 2024 Performance (17)

Miss Elizabeth Tanya Masiyiwa

Miss Elizabeth Tanya Masiyiwa | Non-executive Director

Econet HY 2024 Performance (18)

Mr Chengeto Moyo

Mr Chengeto Moyo | Finance Director

* Independent

  • Board Committees

Committees to assist the Board exercise its authority

The Board has in place committees which assist it in dealing with issues in specific areas. The committees are governed by terms of reference set and approved by the Board. The committees report to the Board and make recommendations to it on matters dealt with by them. The Chairperson of each committee presents a report to the Board on behalf of the committee at every board meeting. Apart from dealing with specific matters delegated to them by the Board, the committees’ existence ensures that high standards of corporate governance are maintained in the Group.

The said committees are as follows:-

Note: Following changes in the Directorate, the Board Committees will be reconstituted and updated accordingly.

Audit Committee
Members: Mr M Edge (Chairman), Dr J Myers, Mr G Gomwe, Mr H Pemhiwa, Miss ET Masiyiwa

The Committee focuses on the quality of the Group’s financial reporting and the effectiveness of the Group’s systems of internal control and, in conjunction with the Risk Committee, risk management processes. It also oversees the integrity of internal audit and assurance and manages the relationship with the Group’s external auditors. The latter responsibility entails ensuring that the external auditors provide an effective and independent audit.

The Committee’s ultimate goal is to ensure the integrity of financial reporting and implementation of sound internal controls and risk management. The Committee considers and reviews reports from management with a view to assessing the quality of the financial reporting and compliance with disclosure requirements.

The external auditors attend the committee meetings to present their report on key matters and any findings deemed necessary to bring attention to the Committee. In terms of overseeing internal audit, the Group Chief Risk Officer attends the meetings and has direct communication lines with the Committee Chairman.

The Chairman and two members of the Committee are independent non-executive Directors.

Risk Committee
Members: Mr G Gomwe (Chairman), Mr M Edge, Mr M Gasela

The Committee’s primary role is to oversee the effectiveness of risk and compliance management within the Group. The identification and management of risk are central to the Group’s objective of creating long-term shareholder value. Risks have the potential to impact the Group’s overall performance as well as its reputation. The Committee plays the critical role of identifying, analysing and assessing risk issues in order to prevent or minimize the likelihood of that impact.

The Committee co-ordinates and reviews information on risk management and ensures that the risk management systems are operating effectively. It reviews on behalf of the Board both operational and strategic risks with a view to ensuring that these are addressed timeously and effectively.

The Committee also monitors the Group’s compliance record, the objective being to ensure the Group meets its legal and regulatory obligations and in the process instil a culture of compliance and integrity.

The Group’s Chief Risk Officer attends the committee meetings and presents reports on risk management.

Nominations Committee
Members: Dr J Myers (Chairman), Mr H Pemhiwa, Ms B Mtetwa and Dr J Chimhanzi.

The Committee assists the Board in determining its composition and that of its committees as well as in succession planning and appointments. It reviews these compositions regularly to ensure they are operating effectively and that they continue to have the right mixture of skills, experience and expertise. Dr J Myers, an independent non-executive director, chairs the Committee. Other members are Mr H Pemhiwa, Ms B Mtetwa and Dr J Chimhanzi.

Remuneration Committee
Members: Dr J Myers (Chairman), Mr H Pemhiwa, Ms B Mtetwa, Dr J Chimhanzi

The Committee’s overall responsibility is to review, on behalf of the Board, the Group’s remuneration structure and employment policies with a view to ensuring that the Group provides competitive rewards to attract, motivate and retain the required skills. During the year the Committee reviewed and recommended to the Board for approval, various incentive schemes aimed at retaining critical skills within the Group as well as alleviating the difficulties brought about by the continuing harsh environment.

The Committee also oversaw the implementation of a performance management programme; the programme entails an assessment of the individual’s performance, measuring this against performance targets. The objective of the programme is to not only achieve best performance by employees but, in the process, create long-term shareholder value. The programme also provides the opportunity to identify skills and capabilities for further development.

As part of its aim to enhance skills within the Group, the Committee also oversaw and approved a training and development programme. Under the programme various leadership and career progression development initiatives were implemented. Efforts were also made to address gender balance by increasing female representation at leadership levels. The Committee is chaired by an independent non-executive Director.

The Group’s Chief Human Resources Officer attends the committee meetings and presents reports on the Group’s employment profile.

Environmental, Social & Governance Committee
Members: Dr J Chimhanzi (Chairperson), Ms T Moyo, Mr G Gomwe, Mr M Gasela, Miss ET Masiyiwa

The Committee assists the Board in monitoring the Group’s social development programmes and initiatives, in particular the Group’s progress in relation to social investment, especially investments in community programmes. It also monitors ethics and integrity within the Group, having regard to the need to maintain the highest standards of governance and the strategic direction of the Group.

The Committee also oversees and monitors the Group’s Safety, Health and Environment (SHE) issues and performance, both in terms of its own policies and in terms of compliance with laid-down regulatory requirements. Alongside the Audit Committee, the Committee also oversees and monitors certain areas of market disclosure; it reviews the Group’s compliance with market disclosure obligations and sets guidelines for the release of information.

All members of the committee are non-executive Directors.

  • Responsibilities

Role and responsibilities of the Board

The Board’s principal role is to formulate the Group’s strategy and review its strategic direction. It also maintains oversight of the performance of management with a view to ensuring the successful performance of the business.

Apart from the scheduled meetings at which it reviews the Group’s performance, the Board has access to senior management through which Directors can receive regular updates on the Group’s performance.

Directors also have direct access to the services of the Group Company Secretary who is accountable to the Board and who, through the board Chair, ensures that the Board and its committees follow and maintain sound corporate governance procedures. The Board is responsible for the preparation and presentation of the Group’s financial statements. It is the Board’s responsibility to ensure that the financial statements give a true and fair view of the Group’s state of affairs at the end of each financial period.

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Econet Wireless Zimbabwe Limited (ECO.zw)

Address

Econet Park, 2 Old Mutare Road, Msasa, Harare, Zimbabwe

Phone

+263-242-486121/6 | +263-772-222 500

Transfer secretary

First Transfer Secretaries (Pvt) Ltd (zw)

Address

1 Armagh Avenue, Eastlea
P.O. Box 11
Harare, Zimbabwe

Phone

+263-242-782869/72

Website

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© Econet Wireless Zimbabwe Limited | All Rights Reserved | Privacy |

Shareholders Events Calendar

Date Event Description
Fri, 31 May, 2024Full Year Results

Previous Year Release

Mon, 19 Aug, 2024Annual Report

Previous Year Release

Sat, 31 Aug, 2024Half Year End
Fri, 22 Nov, 2024Half Year Results

Previous Year Release

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Termination. Your right to use, access or participate in the Web Site and any information or software contained or referred to therein shall automatically terminate if you violate these terms and conditions. We reserve the right, in our sole discretion, to terminate your use of, access to or participation in all or part of the Web Site for any reason, with or without notice. Notwithstanding any termination of your rights you shall continue to be obliged to comply with these terms and conditions and following any termination your obligations with regard to the use of, access to or participation in the Web Site shall subsist.

Assignment. These terms and conditions shall inure and be binding upon the successors and assigns of the parties hereto. You are not allowed to assign or transfer any of your rights or obligations under these terms and conditions. We reserve the right to assign or transfer the Web Site or any information or software contained or referred to therein to any third party without notice and without imposing terms to your benefit.

Entire agreement and severability. These terms and conditions constitute the entire agreement between you and us with respect to the subject matter herein and supersede any and all prior or contemporaneous oral or written agreements. If any part of these terms and conditions is held invalid or unenforceable, that part shall be construed in a manner consistent with applicable law to reflect, as nearly as possible, the original intentions of the parties, and the remaining parts shall remain in full force and effect.

Competent courts and applicable law. Any and all disputes regarding the provision of, use of, access to or participation in Web Site or any information or software contained or referred to therein shall be submitted to the non-exclusive jurisdiction of the Courts of Malta, at our option and to our benefit. These terms and conditions shall be governed by and interpreted in accordance with the laws of Malta excluding any conflicts of law provisions which would, but for their exclusion, prevent the applicability of the laws of Malta. You agree that hereby you are waiving any claims that you might otherwise have had based on the laws of any other jurisdiction.

Contacting Us

Please use the appropriate contact details in our Contact Us to contact us regarding any request, suggestion, complaint, claim or otherwise in relation to the provision of the Web Site and any information or software contained or referred to therein.

These terms and conditions have last been updated on 24 May 2018.

Privacy

Econet Wireless Zimbabwe Limited are committed to protecting and respecting your privacy, which includes any items of personal data which altogether could constitute the personal information that you may choose to provide us.

Privacy Statement

Econet Wireless Zimbabwe Limited (“We”) are committed to protecting and respecting your privacy, which includes any items of personal data which altogether could constitute the personal information that you may choose to provide us (“Personal Information”).

This policy (together with our Terms and Conditions) sets out the basis on which any personal data we collect from you, or that you provide to us, will be processed by us. Please read the following carefully to understand our views and practices regarding your personal data and how we will treat it. By visiting ewzinvestor.com you are accepting and consenting to the practices described in this policy.

We will process all your Personal Information in accordance with applicable data protection law.

Introduction

Our goal is to provide you with a personalized Internet experience that delivers the information, resources, and services that are most relevant and helpful to you. In order to achieve this goal, we sometimes collect information during your visits to understand what differentiates you from each of our millions of other users, and we may also ask you for Personal Information that enables us to give you access to some parts of our web site. We will not disclose your information to any person outside our organisation except as described in this Privacy Policy.

To demonstrate our commitment to your privacy, we have prepared this statement disclosing our privacy practices. This statement describes what personal identifying information is collected, how and when we might use your information, how we protect your information, who has access to your information, and how you can correct any inaccuracies in the information.

Information We Receive

We collect certain information from and about our visitors in four ways: from our web server logs, by means of cookies, with the assistance of third party marketing technologies provided by reputable service providers or vendors and directly from you.

Web Server Logs

When you visit our Website, we may track information to administer the site and analyze its usage. With each visit we may automatically collect the following information:

  • technical information, including the Internet protocol (IP) address used to connect your computer to the Internet, your login information, browser type and version, time zone setting, browser plug-in types and versions, operating system and platform;
  • information about your visit, including the full Uniform Resource Locators (URL) clickstream to, through and from our Site (including date and time); products you viewed or searched for; page response times, download errors, length of visits to certain pages, page interaction information (such as scrolling, clicks, and mouse-overs), and methods used to browse away from the page and any phone number used to call our customer service number.

Cookies

Cookies are small text files stored on your computer by your browser. They are used for many things, such as remembering whether you’ve visited the site before, so that you remain logged in – or to help us work out how many new website visitors we get each month. Cookies do not include Personal Information about you, they cannot harm your computer, and do not contain any viruses.

Econet Wireless Zimbabwe Limited uses cookies to improve your experience on this site. We would like to let you know a few things about our cookies:

  • Certain cookies are essential to the proper function of this site;
  • We do not track your personal activities when you’re not on this site;
  • We use analytics cookies to help us understand what content is most useful to our visitors.

Types of Cookies

  • Analytics: We track site traffic patterns to identify popular site content and potential site problems;
  • We also use cookies to split some users into test groups to test new site features.

You can choose to have your computer warn you each time a cookie is being set, or you can choose to turn off all cookies; you do this through your browser settings. Each browser is a little different, so look at your browser’s ‘Help Menu’ to learn the correct way to modify your cookies. If you turn cookies off, you will not have access to many features that make your experience more efficient and some of our services will not function properly. Blocking or deleting cookies from the site may prevent you from using the site.

Third Party Technologies

We use Google services (Analytics, Remarketing, Display). You can read about how Google uses data when you use our sites or apps here. We use Remarketing with Google Analytics to advertise online. Third-party vendors, including Google, may show our ads on sites across the Internet. We and third-party vendors, including Google, use first-party and third-party cookies together to inform, optimize, and serve ads based on a person’s past visits to our website. You are able to opt out from all this here.

We use Mailchimp (Email Alerts, Contact Management & Marketing) to stay in contact with others, including creating, sending, and managing emails and other information related to Subscribers. You can read about how Mailchimp uses data when you use our sites or apps here.

Information Supplied By You

Any information submitted to us during a Support issue will only be made available to us.

Use Of Your Personal Information

We will use the information you give to us to:

  • carry out our obligations arising from any contracts entered into between you and us and to provide you with the information that you request from us;
  • to ensure that content from our site is presented in the most effective manner for you and for your computer.

We will use Personal Information we collect about you to:

  • administer our site and for internal operations, including troubleshooting, data analysis, testing, research, statistical and survey purposes;
  • to improve our site to ensure that content is presented in the most effective manner for you and for your computer;
  • as part of our efforts to keep our site safe and secure;

Sharing of Identifiable Information

We will share your Personal Information as required by law or by the order of any competent court or (semi-)governmental authority or in matters of public safety or policy. Under strict conditions of confidentiality we may share your Personal Information with agents and contractors who use it on our behalf or in connection with their relationship with us. We will also share your Personal Information as may be needed in connection with the enforcement of agreements.

Anonymous information

We may provide summary statistics about our interests and preferences of visitors of our web site, traffic patterns and related site information. These statistics do not include personally identifiable information.

Security Measures

We use technical security measures to prevent the loss, misuse and alteration of information under our control and information about our subscribers and their web site usage is maintained in a secure environment. Information about our subscribers and their web site usage is not shared with third parties for marketing purposes. We do not disclose any information about any subscriber’s usage of our web site except in specific cases, and we do not share information with any unaffiliated third parties for marketing purposes unless you expressly give us permission to do so.

Where we store your data

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). By submitting your personal data, you agree to this transfer, storing or processing. We will take all steps reasonably necessary to ensure that your data is treated securely and in accordance with this privacy policy.

All Personal Information you provide to us is stored on our secure servers. Where we have given you (or where you have chosen) a password which enables you to access certain parts of our site, you are responsible for keeping this password confidential. We ask you not to share a password with anyone.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your Personal Information, we cannot guarantee the security of your data transmitted to our Site; any transmission is at your own risk. Once we have received your information, we will use strict procedures and security features to try to prevent unauthorised access.

Access to your Information

The Act gives you the right to access information held about you. Your right of access can be exercised in accordance with the Act by sending an email to [emailprotected]

Promotional Messages

If you don’t want to receive promotional materials from us, you can opt out at any time by sending an email to [emailprotected].

Privacy Policy Changes

It is our policy to post any changes we make to our Privacy Policy on this page. It is your responsibility to check this page from time to time to check for any change.

Contact

Questions, comments and requests regarding this privacy policy are welcomed and should be addressed to [emailprotected].

This privacy policy has last been updated on 24 May 2018.

Dr James Myers (Chairman)

Econet HY 2024 Performance (19)

Jim is the Chairman of Econet Wireless Zimbabwe Limited. A 1962 graduate of Texas A&M University in Mathematics, he also holds a Masters in Mathematical Physics from the University of Arizona and a PhD in Industrial Engineering from Texas Tech. His professional career includes leading the international telecommunications practice with Ernst & Young and subsequently founding his own telecoms research company. He held senior management positions with AT&T as an Executive Vice President and President of Southwestern Bell International Development Africa. Jim has served as a director and President of the American Chamber of Commerce in Southern Africa, the board of York Timbers Holdings Limited, a JSE (Johannesburg Stock Exchange) listed company, on the International Board of Texas A & M University, director of African Merchant Bank and MTN.

Mr Hardy Pemhiwa

Econet HY 2024 Performance (20)

Hardy is the President and Group Chief Executive Officer of Cassava Technologies. Hardy also serves as the Group Managing Director of the Econet Group, the parent company of Cassava Technologies.

Cassava Technologies is Africa’s leading integrated technology company providing digital infrastructure and digital services across 31 Countries in Africa, Middle East, Europe, USA and Latin America.

Hardy is a seasoned board-level practitioner with 25 years of senior management experience in banking & finance, ICT and infrastructure development. He holds engineering and business degrees from Queen Mary College (University of London) and from the Edinburgh Business School.

Mr Douglas Mboweni

Econet HY 2024 Performance (21)

Mr Mboweni is the Chief Executive Officer of Econet Wireless Zimbabwe Limited. He has been with the Group since 1996 and was appointed to the board in December 2003. He is also a Professor of practice with the University of Johannesburg.

Mr Martin Edge

Econet HY 2024 Performance (22)

Mr Edge is a UK CA and an Oxford MA, who joined the board in June 2013. In his chosen field of corporate finance and M&A, he has been a corporate finance advisor to many institutions in Europe and Africa over some 30 years, as well as spending some time as a CFO. He has advised on some of the most important transactions in Africa’s telecoms sector. Mr Edge chairs the board’s Audit Committee.

Mr Roy Chimanikire

Econet HY 2024 Performance (23)

Mr Chimanikire joined the Group in 2009 from Deloitte & Touche, where he was a Partner. Mr Chimanikire is a qualified Chartered Accountant (Zimbabwe) and past President of the Institute of Chartered Accountants of Zimbabwe. He was appointed to the board in February 2016 as the Group’s Finance Director and in 2020 he was appointed as the Deputy Chief Executive Officer.

Mr Chimanikire sits on the board of Telrad Networks Limited, which is part of Cassava Technologies Group.

He is also the winner of the IODZ Director of the Year (2022) award.

Mr Godfrey Gomwe

Econet HY 2024 Performance (24)

Mr Gomwe was appointed to the board in May 2013. He is Chairman of the board’s Risk Committee and he also serves as a member of the Audit Committee. He is a Chartered Accountant (Zimbabwe) and sits on a number of other boards. He has vast experience in the corporate world, having held various executive positions over the years.

Ms Beatrice Mtetwa

Econet HY 2024 Performance (25)

A lawyer whose achievements in the legal field have earned her international recognition, Ms Mtetwa was appointed to the board in October 2010.

Dr Jacqueline Chimhanzi

Econet HY 2024 Performance (26)

Dr Jacqueline Chimhanzi is the CEO of the African Leadership Institute (AFLI) which works with Oxford University to nurture a new generation of African leaders through its flagship Archbishop Tutu Leadership Programme. She was, previously, the Senior Strategist of the Industrial Development Corporation of South Africa (IDC).

Before that, she was a Strategy Lead at Deloitte Consulting where she was instrumental in setting up the Deloitte Africa Desk and advised clients on accessing opportunities on the African continent. At the University of Wales, she lectured Marketing as well as Strategy and authored and co-authored papers in peer-reviewed leading international academic journals.

She is a member of the global board of the ONE Campaign and is an independent non-executive board member of the JSE-listed ADvTECH Group – one of Africa’s largest private education providers and sits on the Audit and Risk Committee and chairs the Transformation, Social and Ethics Committee (TSEC). Jackie holds a BSc (Hons), MBA (with Distinction) and a PhD (Strategic Marketing), all from Cardiff University in the UK.

Mr Mgqibelo Gasela

Econet HY 2024 Performance (27)

Mr Mgqibelo McDonald Gasela is an Independent Consultant and Public Policy and Regulation Specialist in the Information Communications and Technology (ICT) sector in Africa.

He has previously worked as Group Head of Regulatory Affairs at the Econet Group responsible for media licence acquisition, compliance and regulatory affairs. Prior to that he spent over 15 years at MultiChoice Africa, leaving as Group Executive and Head of Regulatory Affairs in 2015.

Mgqibelo had a stint as Director of Business Development and Strategy at Vula Communications Holdings, a minority shareholder in Midi TV, the then owners of e-tv and before that worked as Acting Head of the Monitoring and Complaints Department at the Independent Broadcasting Authority (IBA), the precursor to the Independent Communications Authority of South Africa (ICASA).

Initially trained in the natural sciences, Mgqibelo holds a Postgraduate Certificate in Media Management from the Graduate School of Business of the University of Stellenbosch and a Postgraduate Diploma in Telecommunication and Information Policy from the University of South Africa.

Ms Thoko Moyo

Econet HY 2024 Performance (28)

Thoko Moyo is a leadership and communications expert. She has advised C-suite executives and some of the high profile and influential individuals in Africa, Europe and the US. Her corporate governance experience includes serving on the Boards of both listed and private companies, and as a trustee of global not-for-profit organizations. She also spent time at Harvard University’s Corporate Responsibility Initiative where she explored the intersection of corporate responsibility and public policy.

Thoko has undergraduate and post graduate degrees from Harvard University and the University of Zimbabwe. She has also been a guest lecturer at Harvard Business School and Stanford Graduate School of Business.

Miss Elizabeth Tanya Masiyiwa

Econet HY 2024 Performance (29)

Elizabeth Tanya Masiyiwa is a social entrepreneur and smartech executive. She is the CEO of Delta Philanthropies UK and the CEO of Akello, an African company transforming education with technology-based solutions. Elizabeth is a non-executive Director who serves on the Econet Wireless Zimbabwe and EcoCash Holdings Zimbabwe boards, two of the largest companies listed on the Zimbabwe Stock Exchange. She is a board member of Higherlife Foundation and is responsible for the education portfolio across the foundations and the Econet Group of Companies. Elizabeth serves on the Ashesi Foundation board, sits on Harvard University’s Leadership Council for the Centre of Africa Studies, and advises several entrepreneurship and philanthropy networks.

Mr Chengeto Moyo

Econet HY 2024 Performance (30)

Chengeto joined the Econet Group on 1 November 2008 as Chief Finance Officer focusing on operational excellence. He is a seasoned and experienced financial practitioner who has worked in mining, financial services, tourism and FMCG sectors, prior to joining telecommunications industry. He has operated at an Executive level in strategic planning and has been instrumental in remodeling businesses into profit making through cost optimisation programs.

Chengeto was appointed Finance Director for Econet Wireless Zimbabwe Limited with effect from 1 March 2023, and holds B Acc Hons (UZ), MBL (UNISA) and is a qualified Chartered Accountant (Z).

Econet HY 2024 Performance (2024)

FAQs

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